Sorry to say this, but you seem not have understood the problem. Read my reply to @2rosy. Imagine you already have a CoveredCall in your porfolio. Then the question is: can you extend it to a spread? I hope it's now much clearer.
Didn't you have another thread where it was already explained that you can trade most strategies in a cash account, as long as you have the cash? And for many debit strategies you don't really need deep pockets. Maybe you need the collateral for assignment, but there are cash settled instruments, and low dollar value ETF and stocks. Wow man... Again for the last time: add a long otm Put, and you are in a Collar Spread (long stock, short call which is your covered call + long put), the Collar is a spread that has the same payoff of a Bull Put Spread (sell put, buy further otm put).
@cesfx, you are really just a stubborn dumb idiot! You can not think deep, you lack that capacity. Hot Air Talker! Just piss off! Put to Ignore list.
[sigh] You really, really have no clue of what you're talking about... but worse than that, you don't have the humility or the smarts to listen to good advice when it's given to you. Instead, you keep making all sorts of arrogant assertions and self-assured but meaningless pronouncements to try and hide that ignorance. That's not really going over too well. No, you clearly don't "know this relation". Otherwise, you'd know there's no such thing as "extending a covered call to a spread"... you don't understand how ridiculous of a statement that is, do you? Here's a clue for you: when you change the type of trade, you change what it does. There's no such thing as "extending" anything, so your "challenge" is meaningless; you're asking "how do I extend a piece of bread by drilling into a carburetor?" ...yeah, perfect example here. A covered call and a vertical represent two different views on the underlying, and have different margin requirements and risk profiles. One is not "better" than the other in the same way that a screwdriver is not "better" than a hammer; they're different tools for different applications. I thought I'd give you another chance to learn and become smarter, but I see that was a lost hope. Oh, well. Good luck with your "tables", "challenges", and all that. Peace out.
Please do that, thank you. I wasted enough time on imbecilles today. I will put you on ingore too as you are waste of oxygen and data.
@cesfx - at this point, I think we're talking to a brick wall. He wants to hear what he wants to hear (based on his "ideas" of how options work), and he's unable to hear anything else. This was my second try at helping him, and I'm done. Permanently.
As everybody could see, I've been attacked by these 2 "scums" above. It was a coordinated attack! I guess they were put on me b/c of my pro-Russia political views...
You are correct, and we are talking basics here. You actually smelled it quickly, in his thread with short put "tic tac toe" card scenarios. I should know better, when someone ask questions that anyone could google, whilst showing off as knowledgeable giving advice, something is way off.